Iveco Expects $4.5 Billion Acquisition by Tata Motors to Close by Third Quarter
By Cristina Gallardo
Iveco Group said it expects its 3.8 billion-euro ($4.46 billion) acquisition by Tata Motors to be completed by the third quarter of this year.
The Italian truck maker said Thursday that regulatory approvals for Tata's proposed acquisition of Iveco are under way, and that the Indian vehicle manufacturer has already received most of the clearances.
Last year, Tata Motors agreed to buy Iveco's commercial vehicles business, with the completion of the transaction conditional on the separation of Iveco's defense business. In March of this year, Iveco said it completed the sale of the unit to Italian aerospace and defense group Leonardo for 1.6 billion euros.
Tata Motors' purchase of Iveco's remaining business had previously expected to be completed in the first half of 2026, the two companies said when the deal was announced in July.
Meanwhile, Iveco said it made a net profit of 1.17 billion euros for the first quarter, up from 38 million euros in the comparable period of 2025.
Adjusted earnings before interest and taxes dropped to a loss of 55 million euros, versus an adjusted EBIT of 117 million euros in the comparable period of last year.
Revenue nudged up to 2.83 billion euros from 2.81 billion euros.
Write to Cristina Gallardo at cristina.gallardo@wsj.com
(END) Dow Jones Newswires
May 07, 2026 03:31 ET (07:31 GMT)
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